Brazil’s Economy Is Expected To Grow By 2.6 Percent In 2018, And Banco Bradesco Is Making Plans To Expand According To Luiz Carlos Trabuco Cappi

Brazil is South America’s agriculture giant. The country’s agriculture sector grew by more than 12 percent in 2017. But the manufacturing and service sectors of the economy are still not pulling their weight, according to a recent Central Bank report. In 2018, manufacturing will lead the way for growth, and the service sector will all also expand. But the agriculture sector will contract because the 2018 grain harvest will not match the 2017 season record. Consumer credit will expand by 3.0 percent in 2018 thanks to lower interest rates and higher incomes.

Brazilian banks are planning for another great profit year, and GDP growth will fuel bank asset expansion, according to the new chairman of Banco Bradesco, Luiz Carlos Trabuco Cappi. Cappi, the personable and competent bank CEO, is moving up the ladder to the chairman position because his friend and associate, Lázaro de Mello Brandão is passing the chairman’s role to him. Brandão is 91-years-old, but he still has what it takes to lead a multi-billion-dollar international bank. But even though Brandão is still competent, he wants to put Trabuco Cappi in charge so he has a little more free time. After 74-years, Brandão will ride off into the sunset with his head held high, and his reputation as one of Brazil’s oldest and most beloved bankers intact.

Read more: Next Bradesco president to leave the bank’s board of directors, Says Trabuco

Luiz Carlos Trabuco Cappi is taking over as chairman, but he is still the CEO and president until the board picks a new CEO from the bank’s executive pool. Trabuco Cappi and the other five board members have serious decisions to make and according to Cappi, the board is ready to announce the name of the new CEO. But the board will wait until February to make that announcement. Cappi is the kind of executive who keeps his cool during internal and external challenges. He’s been with the bank for 48 years, and Cappi has been instrumental in the tremendous growth of Bradesco at home and abroad. Lázaro de Mello Brandão gets some a lot of the credit, but Cappi is the man who put a face on Bradesco in the international banking world. Thanks to his intellectual background, and a serious work ethic, Trabuco Cappi is a Wall Street favorite.

During Cappi’s eight-year reign as CEO, Bradesco has become a profit-making machine. In 2016, the bank’s net income was $4.6 billion. Now that the Brazilian economy is back on the plus side, Trabuco Cappi and other board members are planning for a bigger payday in 2018. One reason for the optimism is the profit the bank receives from its insurance division, Seguros. Seguros is responsible for 40 percent of the bank’s total net income. That’s what some employees believe Octavio de Lazari, the current president of Seguros, will be the next Bradesco CEO. Trabuco Cappi was president of Seguros for six years before he got the nod to move into the CEO’s office.

Six other executives have a shot at the CEO position according to istoedinheiro.com.br. All the executives on the short list are in sync with Trabuco Cappi’s vision for the bank. All seven men know what Cappi expects, and they know how to face the current challenges and overcome them. Octavio de Lazari may be the front-runner, but Josué Augusto Pancini and Alexandre da Silva Glüher are high on the list too. Domingos Figueiredo Abreu, the lending executive, is also a well-respected option, according to some bank insiders. But a number of bank employees think an IT specialist should be the next CEO. That’s why Mauricio Machado de Minas is high on the list. But no one is ruling out Andre Cano or the head of investments, Marcelo Noronha.

Learn more about Luiz Carlos Trabuco Cappi: http://epocanegocios.globo.com/Empresa/noticia/2017/10/trabuco-o-importante-agora-e-olhar-para-os-desafios-do-futuro.html